GoMeat USD Cryptocurrency Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
GoMeat USD cryptocurrency price ended at $0.328 on Monday, after losing 0%.
(Updated on May 20, 2024)
No changes to the price of GoMeat USD cryptocurrency on the last trading day (Monday, 20th May 2024). During the last trading day the cryptocurrency fluctuated 0% from a day low at $0.328 to a day high of $0.328. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The cryptocurrency is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect GoMeat USD cryptocurrency with a 90% probability to be traded between $0.241 and $0.416 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GOMTUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 0.0122%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The GoMeat USD cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.328 and $0.328. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Saturday, March 16, 2024 with a target of $0.286. Despite whether the objective of the signal formation has been reached the cryptocurrency may continue to perform well.
Support, Risk & Stop-loss for GoMeat USD cryptocurrency
GoMeat USD finds support from accumulated volume at $0.323 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the cryptocurrency tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the cryptocurrency During the last day, the cryptocurrency moved $0 between high and low, or 0%. For the last week the cryptocurrency has had daily average volatility of 0%
Our recommended stop-loss: $0.308 (-6.00%) (This cryptocurrency has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (GOMTUSD) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect GoMeat USD to open at $0.328, and during the day (based on 14 day Average True Range), to move between $0.320 and $0.336, which gives a possible trading interval of +/-$0.0078 (+/-2.37%) up or down from last closing price. If GoMeat USD takes out the full calculated possible swing range there will be an estimated 4.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.323 (1.45%) than the resistance at $0.338 (3.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is GoMeat USD cryptocurrency A Buy?
GoMeat USD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for GoMeat USD of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| $0.328 ( 0%) | $0.328 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOMTUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.328 | . | |
| R2 | 0.328 | . | ||
| R1 | 0.328 | . | ||
| Current price: | 0.328 | |||
| Support | S1 | 0.328 | . | |
| S2 | 0.328 | . | ||
| S3 | 0.328 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.352 | 7.19 % | |
| R2 | 0.345 | 5.20 % | ||
| R1 | 0.338 | 3.09 % | ||
| Current price | 0.328 | |||
| Support | S1 | 0.323 | -1.45% | |
| S2 | 0.308 | -6.02% | ||
| S3 | 0.271 | -17.26% |
FAQ
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